The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Microvast Holdings Inc shares valued at $1,300,000 were sold by Zheng Yanzhuan on Nov 14 ’23. At $1.30 per share, Zheng Yanzhuan sold 1,000,000 shares. The insider’s holdings dropped to 710,000 shares worth approximately $0.36 million following the completion of this transaction.
Also, Zheng Yanzhuan sold 313,009 shares, netting a total of over 632,278 in proceeds. Following the sale of shares at $2.02 each, the insider now holds 1,710,000 shares.
Before that, Webster Craig had added 13,000 shares to its account. In a trade valued at $21,320, the Chief Financial Officer bought Microvast Holdings Inc shares for $1.64 each. Upon closing the transaction, the insider’s holdings increased to 13,000 shares, worth approximately $0.21 million.
As published in a research note from Janney on April 02, 2024, Microvast Holdings Inc [MVST] has been rated down from a Buy to a Neutral. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late November. As of August 31, 2023, Janney has initiated its “Buy” rating for MVST. Earlier on April 03, 2023, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for MVST stock.
Analyzing MVST Stock Performance
During the last five days, there has been a drop of approximately -7.06%. Over the course of the year, Microvast Holdings Inc shares have dropped approximately -63.31%. Shares of the company reached a 52-week high of $1.5000 on 01/02/24 and a 52-week low of $0.4522 on 04/10/24. A 50-day SMA is recorded $0.7604, while a 200-day SMA reached $1.4264. Nevertheless, trading volume fell to 4.81 million shares from 6.49 million shares the previous day.
Support And Resistance Levels for Microvast Holdings Inc (MVST)
According to the 24-hour chart, there is a support level at 0.4881, which, if violated, would cause prices to drop to 0.4626. In the upper region, resistance lies at 0.5371. The next price resistance is at 0.5606. RSI (Relative Strength Index) is 35.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1445, which suggests the price will decrease in the coming days. Percent R is at 87.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Microvast Holdings Inc subject to short interest?
Stocks of Microvast Holdings Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 5.04 million shares to 29.97 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 24.93 million shares. A jump of 16.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.44.
